By Admin 
Life Insurance Corporation of India i.e. LIC has launched two new schemes for the customers. Both these new schemes include LIC Protection Plus and LIC Bima Kavach. Both these schemes have been designed in such a way that the policy holder gets the benefit of both savings and financial security along with insurance. While one of these schemes will provide the facility of market linked savings, the other scheme provides complete live protection. In such a situation, let us tell you today what big benefits you will get in the launch of two new schemes of LIC.
Benefits of insurance and saving in LIC Protection Plus
LIC Protection Plus is a linked life insurance plan, in which the policy holder will get the option of investment along with life cover. This scheme has been designed for those who want to create funds along with insurance.
Special features of LIC Protection Plus Plan
- The special thing about LIC Protection Plus is that people between 18 to 65 years can take it.
- In this, the policy term can be chosen from 10, 15, 20 and 25 years.
- In this, the premium payment period is 5,7, 10 or 15 years.
- In this, the sum assured will be at least 5 to 7 times of the annual premium.
- In this, an option to increase the fund value by paying top up premium is also given.
- Partial withdrawal facility will also be available for 5 years after the inception of the policy.
- Along with this, fund value will also be available on maturity units.
- Whereas if the policy holder dies, the fund value along with the sum assured will be given to the nominee.
Guaranteed life cover up to Rs 2 crore in LIC Bima Kavach
LIC Bima Kavach is a non-linked, non-participating term insurance plan. This scheme is for those who want to create a strong security cover for their family without the hassle of investment.
Special features of LIC Bima Kavach Plan
- The special thing about LIC Bima Kavach plan is that people between 18 to 65 years can take it.
- Whereas in this plan the maturity age can be maximum up to 100 years.
- Options of level sum assured or increasing sum assured are also available in this plan.
- The facility of all three types of premium payment, single, limited and regular, is also available in it.
- The minimum sum assured of this plan is Rs 2 crore.
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